Looking to diversify beyond MENYX? The mutual funds below have historically moved differently from MENYX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for MENYX
7 mutual funds have low correlation with MENYX (below 0.3), 0 of which are negatively correlated. The least correlated is Madison Tax-Free National Fund (GTFHX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Madison Tax-Free National Fund | 0.05 | 0.09 | 0.08 | 67 | Municipal Bonds | MENYX vs GTFHX | |
| Virtus Equity & Convertible Income Fund | 0.07 | 0.37 | 0.54 | 66 | Derivative Income, Convertible Bonds | MENYX vs NIE | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.13 | 0.33 | 0.47 | 63 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | MENYX vs QQQX | |
| First Trust Enhanced Equity Income Fund | 0.21 | 0.43 | 0.57 | 56 | Derivative Income | MENYX vs FFA | |
| BlackRock Enhanced Equity Dividend Trust | 0.27 | 0.49 | 0.60 | 66 | Derivative Income | MENYX vs BDJ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MENYX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.14 | 0.36 | 0.53 | 89 |
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